Horitzó 23: Andorra’s economic plan for meeting the challenge of COVID-19 recovery
Andorra is preparing to deal with the consequences of the crisis caused by the COVID-19 pandemic. As a result, the Andorran government has unveiled a new action plan entitled “Horitzó 23 (H23)”, which outlines a series of measures for reactivating the country’s economy. What does “Horitzó 23” include? This strategic plan comprises 77 actions, spread across 20 initiatives, which are based on three main pillars: social welfare, the economy and innovation, and other measures focused on digital transformation and internationalisation. Above all, this programme arose from a determination to overcome the negative effects of the pandemic and was introduced with …
Requests from foreigners to invest in Andorra have increased
Andorra has piqued the interest of foreign investors who want to establish themselves in the country during this very unusual year. So far in 2020, around 400 applications for foreign investment have been registered. Remote working triggers requests The new situation caused by the coronavirus pandemic has resulted in the need to adopt new ways of working due to social distancing. A consequence of this is that remote working is becoming increasingly common, which, along with a more competitive taxation system, are just two of the reasons for the increase in applications to live in Andorra compared to last …
Dropshipping in Andorra: a highly profitable business model
What is dropshipping? Thanks to the facilities it offers, dropshipping has without doubt become a very profitable internet business model. All you need to do is create an online shop to sell third-party products, without the need to store or buy them in advance. This translates into savings on stock and logistics that can be invested in the design, and positioning of your e-commerce or in the promotion of your products. This business model means that you simply act as the intermediary between the customer and the supplier. Advantages of dropshipping The presence of these types of shops on the …
How to open a bank account in Andorra
Whether you are considering coming to live in Andorra, opening a business or diversifying your investments, one of the first steps you need to take is opening a bank account in the country. Advantages of opening a bank account in Andorra The first thing to remember is that Andorra is not part of the European Union, as a result it is not subject to the guidelines governing the European Central Bank or bound by restrictive European interests. Another advantage is that taxes are lower than in EU countries. Also, generally speaking, banks in Andorra offer a higher return on your …
Advantia Assessors, a new member of Geneva Group International
Advantia Assessors has joined Geneva Group International (GGI), a global alliance of independent professional firms, which has been represented in Andorra since September. Expert advice on a global scale As a member of GGI, Advantia Assessors can supplement their current knowledge and experience with world-class international resources, enabling better advice on a global scale. The significant international presence of Geneva Group International ensures constant support from local experts in operations that require internationalisation. This high-level contact network allows us to offer effective support with regard to local regulations beyond our borders. Therefore, if your business strategy includes international expansion, Advantia …
Tax residency in Andorra for traders, advisors, models, YouTubers, influencers or programmers
It is a fact that residing in Andorra on a permanent basis is a very attractive option for some citizens of Spain, France and other European countries. In addition to a high quality of life and the enchanting landscapes, Andorra offers them the opportunity to pay less tax on the income derived from their wealth or professional activities than they otherwise would in their country of origin. We have already taken an in-depth look at the benefits of tax residency for: – Persons without lucrative activity – Residency for purposes of scientific, cultural or sporting interest But there’s more… Passive …
FISCAL RESIDENCY IN ANDORRA FOR SPORTSPEOPLE, SCIENTISTS AND ARTISTS
AAlthough Andorra is no longer a tax haven, it is undeniably a very appealing country for sporting, science and cultural personalities. After the signing of more than 20 exchange of information conventions between our principality and countries such as Spain, France, Portugal, Switzerland, Germany, Austria, Belgium and the Netherlands, among others (you can see the details of all the countries here), Andorra was removed from the OECD (Organization for Economic Cooperation and Development) blacklist. In addition, Double Taxation Agreements (DTAs) have been established with Spain, France, Portugal, Luxembourg, Liechtenstein, Cyprus, Malta and the United Arab Emirates which prevent double taxation …
Passive residency in Andorra
Andorra offers two different types of residence permits: active residency (linked to a work permit in the principality) and tax residency (also known as passive residency). In the last decade, the legislative evolution of Andorra in terms of tax matters has led to increased interest in obtaining tax residency in the country, especially among businesspeople, elite sportspersons and public figures. Acquiring a residence permit is essential for any foreigner who spends more than 90 days a year in Andorra. Residency without lucrative activity in Andorra Residency without lucrative activity in Andorra is one of the options for tax residency (residency …
Holding in Andorra
Creating a holding company in Andorra is a way of optimising the taxation of the return on your investments. Holding companies in Andorra are subject to specific taxation that is different to normal companies, with more benefits and fiscal attractiveness. It should be noted that a holding company is considered as such when, in addition to holding shares in other companies, it is viewed as having proper economic substance. If the company does not meet this requirement, we would be dealing with joint ownership of property. How can you optimise the taxation of your investments? One of the best ways …
ARE YOU DECIDING WHETHER TO INVEST IN ANDORRA?
Andorra is a country of benefits and opportunities. Besides the obvious economic, financial and fiscal perks, investing in Andorra offers several advantages, such as a quality of life that is among the best in the world. The country welcomes more than 8 million visitors each year, has a GDP per capita of over €35,325 a year (compared to €29,800 in Spain and €34,100 in France) and a minimum wage of €1017.47 per month. Andorra offers investors better terms than other EU countries. In this article, we will explain the major advantages of investing in Andorra and how you can start …
Latest News
